When faced with the problem of a marketplace in rapid downward spiral, one of the world’s largest oil companies took the decision to look at every option to reduce operational costs.
One of the areas of manageable cost that was identified as an opportunity where expenditure could be reduced was their vast fleet of offshore support vessels, where they were responsible for the costs of fuel used by the shipping contractor.
After assessing and reviewing the situation it was determined that an electronic fuel monitoring system (EFMS) it was agreed would be installed on every vessel, giving them an invaluable insight into where the fuel they were providing was being used – and crucially where savings might be made.
The IOC approached a number of EFMS providers and after a rigorous technical due diligence process nominated enginei as one of its approved technology vendors.
Based on the results achieved from the initial EFMS installations, the outcome was the implementation of an industry changing contract specification requiring all vessel owners to install an EFMS and thereby require them to become more aware of vessel performance and take greater responsibility for the fuel that was being supplied.
The strategy to implement EFMS in their fleet in one specific operational area has been so successful that the oil company involved is now rolling it out in other regions where they see similar opportunities for fuel improvement and cost control.